MeiraGTx (NASDAQ:MGTX) Coverage Initiated at BofA Securities
BofA Securities began coverage on shares of MeiraGTx (NASDAQ:MGTX) in a research report sent to investors on Tuesday, FinViz reports. The firm issued a buy rating and a $20.00 price target on the stock.
Several other brokerages have also commented on MGTX. Zacks Investment Research upgraded MeiraGTx from a sell rating to a hold rating in a report on Thursday, August 20th. Chardan Capital reiterated a buy rating and set a $45.00 price objective on shares of MeiraGTx in a report on Sunday, August 16th. BidaskClub upgraded MeiraGTx from a strong sell rating to a sell rating in a report on Wednesday, September 9th. Piper Sandler reissued a buy rating and issued a $40.00 target price on shares of MeiraGTx in a research report on Friday, July 17th. Finally, Bank of America initiated coverage on MeiraGTx in a research report on Tuesday. They issued a buy rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. MeiraGTx presently has an average rating of Buy and an average price target of $29.33.
Shares of MGTX traded up $1.01 during midday trading on Tuesday, hitting $14.13. 3,953 shares of the company’s stock traded hands, compared to its average volume of 110,252. MeiraGTx has a 1 year low of $8.82 and a 1 year high of $22.32. The firm’s fifty day moving average is $13.35 and its 200-day moving average is $13.56. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $490.20 million, a price-to-earnings ratio of -9.29 and a beta of 1.41.
In other news, Director Joel S. Marcus sold 15,459 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $14.01, for a total transaction of $216,580.59. Also, Director Thomas E. Shenk sold 6,667 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $15.00, for a total transaction of $100,005.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,482 shares of company stock worth $351,926 over the last ninety days. 16.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its stake in MeiraGTx by 164.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,296 shares of the company’s stock valued at $71,000 after buying an additional 3,296 shares in the last quarter. UBS Group AG lifted its stake in MeiraGTx by 30.7% in the 2nd quarter. UBS Group AG now owns 7,044 shares of the company’s stock valued at $89,000 after buying an additional 1,655 shares in the last quarter. Aperio Group LLC purchased a new position in MeiraGTx in the 1st quarter valued at about $137,000. Citigroup Inc. lifted its stake in MeiraGTx by 67.0% in the 1st quarter. Citigroup Inc. now owns 10,534 shares of the company’s stock valued at $142,000 after buying an additional 4,226 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in MeiraGTx by 25.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,186 shares of the company’s stock valued at $150,000 after buying an additional 2,297 shares in the last quarter. 54.54% of the stock is currently owned by hedge funds and other institutional investors.
MeiraGTx Company Profile
MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.
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